Sara King, a California attorney, pled guilty to wire fraud and money laundering after misusing over $8 million from clients to fund her gambling addiction. King, previously running King Family Lending LLC, targeted high-net-worth individuals for short-term loans but instead lost client money at the Wynn casino. Sentenced to 21 months in federal prison, she also agreed to pay restitution of over $8.7 million. King's attorney cited her battle with Xanax addiction and heavy drinking, leading to her commitment to rehabilitation. Post-incarceration, she will face three years of supervised release.
Sara King, a 41-year-old attorney, pleaded guilty to wire fraud and money laundering after misappropriating over $8 million in client funds to finance a gambling addiction.
Facing more than 20 years in prison, she was ultimately sentenced to 21 months for her crimes and committed to rehabilitation for her substance abuse issues.
King's fraudulent scheme involved securing short-term loans for high-net-worth clients, which she exploited while grappling with addiction to Xanax and alcohol.
Upon her release, King will undergo three years of supervised release as part of her sentence for having gambled client funds away at casinos.
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